Initial launch of curated multi-brand platform

RNS Number : 0702U

Unbound Group PLC

28 July 2022

 

28 July 2022

This statement has been updated to include the URL of the Group's consumer website.

Unbound Group plc

("Unbound" or the "Group")

Initial launch of curated multi-brand platform

Continued development of platform and partner brand strategy
ahead of Autumn Winter launch in September

Unbound Group plc is pleased to confirm the initial launch of its curated multi-brand platform, www.unboundgroup.co.uk, as scheduled, which offers a range of partner brands for its core 55+ customer demographic. The further Autumn Winter launch of the platform is on track to be completed in September.

Alongside its core Hotter brand, the Group is initially launching with the first 7 chosen partner brands, primarily focused on complementary specialist footwear categories.

From today through to October, the Group will continue to phase the onboarding of additional partner brands which will broaden the offering further across apparel and other specialist footwear categories, as announced on 30 June 2022. All partner brand relationships are designed to be capital light, operating a drop ship model with a fixed percentage commission payable on every sale.

Utilising insight driven from its loyal and growing customer base, the Group intends to expand into other relevant growth areas, including wellness, in Q4 2022 and will establish its own Unbound apparel range in Q2 2023.

The Group will also continue to explore additional partner brand opportunities in the coming months with several further partnerships at an advanced stage. Each potential partner brand is subject to a careful selection process using data-driven insights based on four key criteria: relevancy, desirability, specialism and sustainability. Central to this process is the Group's continued desire to meet its customer needs.

The Group also continues to invest in the development of the functionality and technology of its Mirakl-integrated site; focusing on enabling the Group to partner seamlessly with its selected partner brands, efficiently scale product offering and support a frictionless customer experience.

Once a brand joins the platform, it will have direct access to the Group's growing 4.6m customer database and the benefits of the Group's investment to date in technology and marketing campaigns.

Ian Watson, Chief Executive Officer, commented:

"We are on track to deliver a successful launch of the Unbound platform and I am delighted to be taking the first step towards the Autumn Winter launch in early September in partnership with 14 carefully selected brands. We continue to use our data driven customer insight in conjunction with our technology and broader expertise to enhance our platform, strengthen our offering and optimise the user experience, which is expected to drive further customer engagement and loyalty in the medium term.

I am pleased with our progress to date. Alongside the continued momentum and brand strength of Hotter, we have seen strong uptake from a selection of leading partner brands, each of which offers something unique and additive to our loyal customers but are united under the Unbound Group umbrella. I am confident that each brand recognises the potential value our platform can bring to them, in turn encouraging future brands to join us on our curated, scalable platform.

Today's launch is just the start. We look forward to seeing the continuing progress of the platform and the true potential of the full Unbound Group offer becoming apparent in the coming months as we pursue our growth plans."

ENDS

Enquiries

Unbound Group plc
Ian Watson / Dan Lampard / Jenna Shillcock
020 3874 8300

Singer Capital Markets

Peter Steel / Tom Salvesen / Alaina Wong / Kailey Aliyar

020 7496 3000

Vico Partners
Sofia Newitt
020 3957 5045

Notes to Editors

Unbound Group plc

Unbound Group plc is the parent company for a group selling a range of brands focused on the 55+ demographic. Unbound Group will build on the solid foundation of Hotter Shoes, its current main business, to grow value through its curated, multi-brand retail platform supporting the active lifestyles of the 55+ demographic with a range of products and services. Unbound Group's platform will be powered by Mirakl's leading marketplace technology to enable the Group to partner seamlessly with selected third-party brands. Unbound Group's expanded offering beyond footwear will feature a broad range of active lifestyle products and services, with third-party complementary brands featuring alongside new Unbound Group brands, as well as Hotter.

Hotter Shoes

Hotter Shoes, an Unbound Group plc company, is one of the UK's leading specialist footwear brands, selling over 1.4 million pairs of shoes per year. Hotter's footwear has an uncompromising focus on 'customised comfort' and perfect fit through the use of its differentiating technology, including its e-commerce platform, 3D foot scanner and augmented reality app which enables the consumer to try products virtually from home. Hotter has been transformed from a retail to a digitally led, omni-channel business over the past 3 years, selling its footwear to over 4 million customers via online, its direct mail order channel and its targeted 17 Technology Centres and 8 garden centre concessions in the UK. With its clearly defined, large and growing target demographic, Hotter now reaches some 30% of the female population in the UK over the age of 55. Digital partnerships have recently been established with several online retailers including Next, John Lewis, The Very Group and M&S.

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